US Bancorp DE raised its holdings in shares of ConocoPhillips (NYSE:COP) by 2.4% in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,027,908 shares of the energy producer’s stock after purchasing an additional 23,935 shares during the period. US Bancorp DE owned 0.09% of ConocoPhillips worth $62,703,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also made changes to their positions in COP. Valley National Advisers Inc. increased its stake in shares of ConocoPhillips by 64.9% during the second quarter. Valley National Advisers Inc. now owns 503 shares of the energy producer’s stock valued at $31,000 after purchasing an additional 198 shares in the last quarter. Towerpoint Wealth LLC bought a new position in shares of ConocoPhillips during the second quarter valued at approximately $32,000. Manchester Financial Inc. bought a new position in shares of ConocoPhillips during the second quarter valued at approximately $34,000. AllSquare Wealth Management LLC increased its stake in shares of ConocoPhillips by 1,018.0% during the second quarter. AllSquare Wealth Management LLC now owns 559 shares of the energy producer’s stock valued at $34,000 after purchasing an additional 509 shares in the last quarter. Finally, Glassman Wealth Services increased its stake in shares of ConocoPhillips by 779.2% during the first quarter. Glassman Wealth Services now owns 633 shares of the energy producer’s stock valued at $42,000 after purchasing an additional 561 shares in the last quarter. 71.56% of the stock is owned by institutional investors and hedge funds.
Shares of NYSE:COP traded up $0.99 during trading on Friday, reaching $57.34. 7,214,412 shares of the stock traded hands, compared to its average volume of 5,724,414. The stock has a 50-day moving average of $54.14 and a two-hundred day moving average of $60.95. ConocoPhillips has a 52-week low of $50.13 and a 52-week high of $80.24. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.64 and a current ratio of 1.76. The stock has a market cap of $63.50 billion, a P/E ratio of 12.66, a price-to-earnings-growth ratio of 1.54 and a beta of 1.04.
ConocoPhillips (NYSE:COP) last posted its quarterly earnings results on Tuesday, July 30th. The energy producer reported $1.01 EPS for the quarter, missing the Zacks’ consensus estimate of $1.03 by ($0.02). ConocoPhillips had a net margin of 18.33% and a return on equity of 15.96%. The firm had revenue of $8.38 billion for the quarter, compared to analysts’ expectations of $9.42 billion. During the same quarter in the previous year, the company earned $1.09 EPS. The company’s quarterly revenue was down 9.3% compared to the same quarter last year. Sell-side analysts expect that ConocoPhillips will post 3.85 earnings per share for the current year.
The company also recently declared a quarterly dividend, which was paid on Tuesday, September 3rd. Stockholders of record on Monday, July 22nd were issued a dividend of $0.305 per share. This represents a $1.22 dividend on an annualized basis and a dividend yield of 2.13%. The ex-dividend date was Friday, July 19th. ConocoPhillips’s payout ratio is 26.93%.
A number of equities analysts have weighed in on COP shares. Bank of America raised shares of ConocoPhillips from a “neutral” rating to a “buy” rating and set a $75.00 target price for the company in a research note on Wednesday, July 17th. JPMorgan Chase & Co. cut their price target on shares of ConocoPhillips from $83.00 to $80.00 and set an “overweight” rating on the stock in a report on Tuesday, July 9th. Barclays began coverage on shares of ConocoPhillips in a report on Monday, August 19th. They set an “overweight” rating and a $79.00 price target on the stock. Zacks Investment Research upgraded shares of ConocoPhillips from a “strong sell” rating to a “hold” rating and set a $52.00 price target on the stock in a report on Thursday, July 11th. Finally, ValuEngine upgraded shares of ConocoPhillips from a “sell” rating to a “hold” rating in a report on Thursday, June 27th. Four research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus price target of $76.85.
ConocoPhillips explores for, produces, transports, and markets crude oil, bitumen, natural gas, liquefied natural gas (LNG), and natural gas liquids worldwide. The company primarily engages in the tight oil reservoirs, LNG, oil sands, and other production operations. Its portfolio includes unconventional plays in North America; conventional assets in North America, Europe, Asia, and Australia; various LNG developments; oil sands assets in Canada; and an inventory of conventional and unconventional exploration prospects.
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